The Surprising Advantage of Private Investments: You Can’t Panic-Sell (The Long View Excerpt)
Advisors discussing private markets with clients often have to address illiquidity as a drawback; here a portfolio manager frames the inability to sell quickly as a behavioral advantage and describes how his team evaluates private businesses. It is a short clip rather than a full allocation argument, so it is best treated as manager commentary.
Summary
By the markets & outlook deskAn excerpt from Morningstar's The Long View conversation with Fidelity Contrafund's Will Danoff, in which he explains why his team looks beyond public stocks and how it analyzes private companies. The clip is framed around the idea that private holdings cannot be panic-sold, and Danoff tells the story behind the fund's investment in a drone-delivery company.
- Danoff explains why his team looks beyond public stocks
- The segment covers how the team analyzes private companies
- The framing is that private investments cannot be panic-sold
- Danoff tells the story behind an investment in a drone-delivery company
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